Storage Auctions
Online Storage Auctions => Online Storage Auctions => Topic started by: Travis on March 10, 2013, 09:55:05 PM
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Hypothetically, lets say you bought a locker and you just wanted a few of the nice pieces of furniture but you didn't want to deal with the rest of the stuff in the unit. Would you consider reselling your storage unit online?
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Nope, not worth the hassle.
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What hassle? Posting an ad online? Meeting the winner at the unit? If you keep the stuff and sell it on Craigslist, you'll have to post 20 ads and meet 20 people.
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What hassle?
For starters you have to work a deal with the storage unit property manager to keep the unit while waiting for someone to buy it. Then what if a buyer pulls out, or you go to meet them at the unit and wait around while they are a no-show. Then there's the possibility of the buyer coming back after you if things weren't as it seemed with the contents of the unit, or worse yet if something illegal were discovered inside. Finally on a profit note, selling the unit as a whole will often result in a lower profit margin than if it were sold off by the piece. I've made thousands off units that would've only gone for hundreds as a bulk sale.
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Sliced bread has nothing on this. ;) It's almost done by the way....about a week away.
Alloro, of course merchandise in bulk is going to sell for less than if you pieced it out. But lets say you could buy a unit, pull out the valuables and then resell the bulk items for what you paid for the locker, in my book that's a win. I realize that some people don't mind reselling the small insignificant items at garage sales and flea markets because that's their bread and butter. This is more for people that are looking for a quick flip.
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What make you think people are dumb enough to buy units with all of the valuable items removed and all of the junk left over? When I go to auctions I can pretty much tell the good units from the junk units, just like most everybody else can. I'll assume you're not planning on staging units with empty boxes and a few good items in the front?
No, you've got this all wrong. There are plenty resellers out there that are looking for the common every day items. For example: trash bags full of clothing that some people donate - that's treasure for a clothing reseller who needs inventory. Clothing is just one example out of many. My point is, other resellers are looking for inventory. What you consider low-end unsellable merchandise, another person may need and have the resources to turn a profit on it.
Private sellers aren't going to be selling units with empty boxes because the winning bidder is going to inspect the merchandise and has the right of refusal if the contents of the units aren't the same as in the photos. Plus, there is a feedback system in place.
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What you consider low-end unsellable merchandise, another person may need and have the resources to turn a profit on it.
Private sellers aren't going to be selling units with empty boxes because the winning bidder is going to inspect the merchandise and has the right of refusal if the contents of the units aren't the same as in the photos. Plus, there is a feedback system in place.
You've just described selling on eBay, Amazon, and Craigslist. I'm just not seeing any big difference.
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You've just described selling on eBay, Amazon, and Craigslist. I'm just not seeing any big difference.
eBay has an auction style format but they charge a fee. Craigslist is free but doesn't offer an auction format. Amazon charges a fee and doesn't offer an auction format. Not only that, none of these sites are known for selling storage units. Perhaps private sellers will feel more comfortable on a site that is specifically for storage unit auctions.
Here is why I know this will work: 1. There are tenants that need to sell the contents of their units before they get behind on their rent and lose their unit. 2. There are people who are tired of paying rent on storage units full of stuff they haven't used in years. 3. There are people who buy storage units at auction and don't want to deal with the common every day items. 4. With an estimated 56,000 storage facilities in the U.S., the site would only need the involvement of a fraction of these facilities to be a success. If the facilities get on board the buyers will follow.
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You've just described selling on eBay, Amazon, and Craigslist. I'm just not seeing any big difference.
Travis,
I get what you are attempting to do and I am interested in using your new service. Like Travis said, storage units are filled with all kinds of stuff and some people like selling or are better selling certain items then others. I like the idea of accumulating all the items that have value and that are sellable, but don't sell well for me, and put them back in a storage unit with full disclosure of what the contents are and what they WON'T find, and auction it off.
I realize I could nickel & dime those items over a 6 month to a year period and make X amount of money, but I'm happy getting 40% of X or even 20% of X if it's all gone in a week!
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This is a good example of how a private sale might work. Everything is spread out so it can easily be seen. I realize that all private sales aren't going to be this well organized, the seller obviously spent some time staging the unit. Now to a collector or reseller who is looking for this type of inventory, buying this unit could be a win.
(http://i1339.photobucket.com/albums/o701/travis_lane1/PrivateSeller_zps9af85770.jpg)
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But you know all the stuff has been picked through thou. I dont ever buy non-lien units. And that photo that you posted is in Utah, thought that looked familier. Im going to jack the price up on this unit just hope I dont get stuck with it. Bet it sells for 1600.00 after I bid 1450.00 for it .
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Yeah, that unit looks like it has some potential. Definitely some mystery.
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Bet it sells for 2,000. These online auction go for way over what they go for live
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Bet it sells for 2,000. These online auction go for way over what they go for live
Maybe people are using online storage unit auctions to launder money and thats way they go so high?
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Maybe people are using online storage unit auctions to launder money and thats way they go so high?
It seems like something is up! Why would people want to bid so high on a online auction compared to live auction? Is it due to credit cards can be used to buy units? Whatever it is I always have a great time running the bid up cause I know I will be outbid.
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I think online storage auctions give people more time to think about the unit. Plus more time to research the value of the contents. But some units sell for ridiculous prices, well beyond what can be seen in the unit. You have to wonder how many people actually show up to pay.
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But you know all the stuff has been picked through thou. I dont ever buy non-lien units. And that photo that you posted is in Utah, thought that looked familier. Im going to jack the price up on this unit just hope I dont get stuck with it. Bet it sells for 1600.00 after I bid 1450.00 for it . storagebattles.com/itemdetail/2151/towne-storage.html
With three days left, I'm anxiously awaiting to see your $1,450 bid. Right now (Monday, March 18, 2013 at 1:30 pm Pacific time) it's only at $560. Go ahead, jump in there ! ;D
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There seems to be a common theme with these online auctions. 1 week before the auction ends, they're bid up to about what they would sell for at a live auction. 1 day before the auctions ends they get some more activity. Then the last hour...really the last minute, the crazy bids come in.
If online storage auctions get more popular...and they will, it's just a matter of time before someone writes some sniping program.
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There seems to be a common theme with these online auctions. 1 week before the auction ends, they're bid up to about what they would sell for at a live auction. 1 day before the auctions ends they get some more activity. Then the last hour...really the last minute, the crazy bids come in.
If online storage auctions get more popular...and they will, it's just a matter of time before someone writes some sniping program.
Im the higgest bidder as we speak.
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There seems to be a common theme with these online auctions. 1 week before the auction ends, they're bid up to about what they would sell for at a live auction. 1 day before the auctions ends they get some more activity. Then the last hour...really the last minute, the crazy bids come in.
If online storage auctions get more popular...and they will, it's just a matter of time before someone writes some sniping program.
Thats why I know I can jack the bid up on this unit and someone will over pay and out bid me at the last sec of auction ending.
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No, I'm the highest bidder! Road Trip!
Strange, the bid page shows that BWD is still the high bidder at $680. Jump in at $690 and see what happens.
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Strange, the bid page shows that BWD is still the high bidder at $680. Jump in at $690 and see what happens.
Actually jump the bid 250 and see what happens
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Actually jump the bid 250 and see what happens
Well, since he lives 1600 miles away I think it's pretty safe to say he won't be bidding at all. No matter how much fun one has on a road trip it wouldn't factor out right buying that locker. (IMHO)
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Actually jump the bid 250 and see what happens
Well, AntiqueGuy is the leader now at $860...get back in there BWD !
AG's bid was $860 at 6:00 PM Pacific time on 3/20/2013.
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Well, AntiqueGuy is the leader now at $860...get back in there BWD !
AG's bid was $860 at 6:00 PM Pacific time on 3/20/2013.
my gf did the bidding and she stopped at 850 so I bumped it up to 950. Watch the last few minutes of the ending of the auction and bet it sells close to 1500 or more.
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What did the auction in question sell for? I looked at it about 3 hours after it ended I think and the price spot was empty. What's up with that? I guess they think anyone who is REALLY interested will be watching as the clock ticks down.
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Went for 1180.00 Way to much.